
The economic cost of disasters across the world dropped in 2015 to around $85 billion (78 billion euros) from $113 million last year, reinsurance company Swiss Re said on Friday.
Insurance companies covered $32 billion of the total, it said in its Sigma study.
The 2015 figure is much below the annual average over the past decade of $192 billion, Swiss Re said.
The cost of natural disasters alone accounted for $74 billion of this year's total, it said.
The industrial disaster in Tianjin in northeastern China, where massive explosions at a hazardous goods storage firm on August 12 killed 161 people, is estimated to have been the year's costliest catastrophe, with insurers covering more than $2 billion of the damage, but calculations are ongoing.
Among natural catastrophes, the February winter storms in the United States produced the biggest bill for insurers, costing them around $2.7 billion.
The Nepal earthquake, which killed 9,000 people and destroyed 500,000 homes had an economic cost of more than $6 billion, but insurers had to pay out just $160 million, Swiss Re said.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor